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FG pensioners lament 14 months unpaid entitlements

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…Say interest on bond pending since 2004

By Rosemary Onuoha

FEDERAL Government Pensioners in the states have not been paid their pension benefits in the past 14 months.

It was gathered that this category of pensioners have not been paid since their retirement    since January 2017.

According to the Association of Federal Contributory Scheme Pensioners, AFCSP, Oyo State chapter, non-payment of their pensions under the Contributory Pension Scheme, CPS, have worsened their living conditions.

In a letter addressed to the National Pension Commission, PenCom, the pensioners claimed the Federal Government no longer pays pension immediately after retirement,    despite    initial promise to always do so.

Part of the letter, by the President of the association, Chief Amao Shittu and Secretary, Prince E. A. Akingbade, said: “We wish to inform that some of our members have not received any of their retirement benefits especially those who retired from January 2017 to date, their retirement benefits have not been paid to them and this is causing serious problems for our members who are affected.”

The association said the total amount being paid to federal pensioners under the new pension scheme, as take home after the various deductions either under Annuity or Programmed Withdrawals, was nothing to write home about.

On interests arising from the accrued pension benefits bond with the Central Bank of Nigeria, CBN, the pensioners disclosed that no Federal Government pensioner had been paid the interest accrued from the bond since the inception of the CPS in 2004. “The Federal Government through the Central Bank and PenCom still owe all categories of contributory pensioners from inception in 2004, accrued interests on their initial entitlements as at July 2004 which was deposited with the Central Bank as Bond. We are demanding the calculation of all accrued interests (on all monetised amounts) as at July 2004, at the government’s official interest rate.”

PenCom response

Reacting to the development, Head, Corporate Communication, PenCom, Mr. Peter Aghahowa, affirmed that 2017 retirees have not been paid. According to him, the Federal Government had however released money for pension payment to pensioners up to February 2017, noting that they are yet to release money for pensioners who retired from March 2017 till date.

He added that the Commission would pay the pensioners as soon as the Federal Government released the fund.

The post FG pensioners lament 14 months unpaid entitlements appeared first on Vanguard News.

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